On January 21, the Cabinet of Ministers presented this draft law for consideration by the Jogorku Kenesh.
According to representatives of the Financial Supervision Authority, the main goal of this regulation is to create a mechanism for collective risk distribution within the framework of the mandatory insurance system for residential premises against fires and natural disasters (OSJ) by forming an insurance pool and clarifying the conditions under which cases can be recognized as insured.
The draft law proposes to change the definition of "insurance pool." In the current version of the law, an insurance pool is understood as a union of insurers that does not have the status of a legal entity. It is proposed that the pool acquire the status of a legal entity, and its funds be formed from a portion of the insurance premiums collected from insurance companies to fulfill obligations under contracts for mandatory insurance of residential premises.
If the draft law is approved, among other expected changes, the Financial Supervision Authority plans to:
- reduce the share of refusals in insurance compensation payments for formal reasons by at least 50%
- decrease budget expenditures for compensation of damage from natural disasters by 30-40% compared to the average figures of the last 5 years;
- increase the number of insured houses in rural areas by 15-20%.
